Tech

Which Are The Best Personal Loan Apps In India In 2021?

A personal loan is a boon for the borrowers. A personal loan is a borrower’s boon in case of a financial emergency or when they are facing a shortage of funds. Due to the freedom of usage that it offers like funding a wedding, planning travel, medical needs, or practically anything under the sun. With these benefits, a personal loan has become the most comfortable financial cushion for most borrowers. 

The internet age has made lending easier as several lenders offer the service through their mobile applications. So all you need is a mobile phone and an active internet connection to be financially free. Here is a list of the top 5 instant personal loan apps in India 2021.

list of Top 5 Instant Personal Loan Apps in India: 

  1. Fullerton India’s InstaLoan App: A quick and convenient loan application for both salaried as well as self-employed professionals, the Fullerton India’s personal loan app offers fast loan approval and quick disbursal of the loan amount to your bank account within 30 minutes of loan approval. 

Some of the features include:

  1. Freedom to apply from anywhere, anytime around the country. 
  2. Hassle-free documentation, with only minimum information. 
  3. Completely digital, with dynamic tracking.
  4. You can get a personal loan of up to Rs 25 Lakhs.
  5. Flexible and Attractive interest rate starting at 11.99%* for salaried and self-employed individuals with a maximum limit of 36%.
  6. The process is completely paperless. 
  7. The loan can be dispersed into the bank account of the borrower within 30 minutes of approval.

  • MoneyTap Loan App: Essentially a money lending app, it offers loans to clients in Delhi NCR, Mumbai, Bangalore, Hyderabad, and Chennai as well as 30+ cities in India. MoneyTap offers a market-driven interest rate at flexible tenure.

  • EarlySalary Loan App: Especially targeted towards working professionals with a salary of Rs 18,000 and above. EarlySalalry offers a personal loan up to Rs 2 lakh instantly, with minimum documentation, within 10 minutes of submitting an application.

  • KreditBee Loan App: KreditBee offers a loan amount of Rs 2 Lakhs to individuals. IT has various loan options like flex personal loans, online purchase loans, and personal loans for salaried people. You can take a loan for a tenure of 62 days to 15 months. Secured by 128 bit SSL encryption, it ensures that the data of the customers is safe. You can use the app for shopping from partner websites like Flipkart, Amazon, etc.

  • LazyPay Loan App: Now you can avail of the credit from Rs. 10,000 to Rs. 1,00,000 with LazyPay. You can also use this app while shopping from Zomato, Swiggy, Amazon or Flipkart, etc., and later you can pay with flexible EMI options.

These are some of the best loan apps of 2021 which can help solve all your financial troubles and offer loans at the great interest rate and repayment tenure that will make it easy for you to pay back in easy installments. 

Why use personal Loan apps?

  1. Save Time: If you’re stuck in an emergency, you wouldn’t want to spend time running from one lender to another. Instant personal loans app offers you a personal loan with a click of a button.

  2. Access Anywhere: You don’t have to stand in long queues. If you’re opting for a personal loan, you can easily submit an online application from the comfort of your own home and let the process begin.
  3. Digital Documentation: The time of self-attested xerox copies is gone. You can simply upload your documents through a scanner in your phone when applying for a personal loan, and have all the paperwork in your device as a backup.
  4. Easy Eligibility: A personal loan does not require you to jump through several hoops. Lenders have relaxed personal loan eligibility criteria because of the competition in the market. This can work to great benefit for you.

A personal loan is an excellent option for those looking for hassle-free financing options. To avail of a personal loan, you need to install instant personal loan app on your phone fulfill the basic eligibility criterion. It comprises a stable income, a stable place of residence, a good credit score, age, and satisfactory repayment capacity. Whether you need Rs. 50,000 or 1,00,000, you can easily take a personal loan to fund your smaller needs.

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